The advent of wide-spread use of bill acceptors or currency validation units for use with gaming machines and vending machines has greatly increased the convenience to the user by allowing the use of paper bills in various denominations, as opposed to coins, to operate these types of machines. Generally, however, these types of machines only dispenses money in the form of coins and they are incapable of dispensing paper currency. Coincidentally, the wide-spread use of automated transaction machines (ATMs) has provided the consuming public with ready access to paper currency from ATMs using a bank card or credit card and upon entry of user appropriate code information. Operationally, however, ATMs are predominantly intended to dispense currency in a single denomination from a secure location and they are thus little more than a note counting and dispensing apparatus.
For certain applications, such as gaming and vending machines having bill validation capabilities, there is a need for a bill or note dispenser which will interact with an electronic controller of the machine, to dispense currency, bills, or other secure notes.